MReport_December2017

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TH E M R EP O RT
COVER STORY
A
nticipating what's to come is always a
tricky business. 2017 was a year defined
by unpredictability, with the housing
and mortgage industry facing technolog-
ical updates, policy changes, demographic shifts,
and a slew of natural disasters. Now, 2018 offers a
clean slate and a sense of optimism as the indus-
try continues to grow and learn.
This new year will see the
industry now knowing a bit more
of what to expect from the now-
established presidential admin-
istration, but still with plenty of
questions about what course the
government will chart in 2018.
Both natural disasters and digital
threats will almost certainly con-
tinue to provide challenges, but
emerging technological advance-
ments will also provide enormous
opportunity for those who can
evolve their processes and best
incorporate them.
But without a Magic 8-Ball to
provide all the answers, the best
way to predict what 2018 has
in store is to talk to the people
who've been in the trenches
during the twists and turns of
2017. With that in mind, MReport
spoke to a cross-section of leading
industry experts whose day-to-
day duties demand that they try
and anticipate the next challenge,
the next opportunity, and the
next unexpected curveball.
Leveraging Technology
T
he best way to build a bet-
ter future is to understand
the past. While the challenges
of 2017 won't be left behind, it is
how the industry responds that
is key. One trend many indus-
try experts agree on is that the
expansion of digital tools will
be crucial for anyone hoping to
remain competitive.
"2017 provided for many good
challenges in bringing more and
more automation and technology
to an industry that desperately
needs it," said
Mike Lyon, EVP at
Nexsys Technologies.
Using digital tools as a means
to enhance consumer experience
through workflow may become
the primary focus for many lend
-
ers in 2018. As in many cases,
efficiency will be key.
"Lenders are going to have to
be more efficient—if the purchase
business takes more effort, you
have to get more efficient in the
business," said
Jonathan Corr,
President and CEO of Ellie Mae.
"Technology can help address this
challenge by helping lenders close
loans faster, close more loans, and
reduce the cost to originate, all
while operating with the compli
-
ance necessary in today's world."
Jeff Sandman, Co-Founder of
Pendo, added, "The adoption of
technology has reduced redun-
dancies, errors, and simplified
the process while producing an
appraisal in less time and with
better accuracy."
As the industry moves into
2018, there are also technology so
-
lutions that lenders can implement
to drive costs out of the mortgage
process and deliver greater trans-
parency and control for proof of
compliance.
According to
Tim Anderson,
Director of eServices at DocMagic,
"What was once referred to as
eMortgages has now been renamed
to the Digital Mortgage process to
take time, paper, and risk out of
the entire process and store critical
data and docs to ensure compli
-
ance of the process all the way
from initial loan application to
closing and investor delivery."
There will inevitably be speed
bumps along the way, of course.
While
Stanley Street, President of
Street Resource Group, suggests
the industry will see an acceler-
ated use of eNotes in 2018, He
says much depends on adoption
amongst the secondary market.
"Major lenders are actively pur
-
suing completely digital technol-
ogy, and warehouse lenders have
become increasingly comfortable
financing digital-mortgage prod-
ucts," said Street. "Our hope is
that increase demand for eNotes
next year will help move addi-
tional aggregators and institutional
non-GSE investors off the fence."
Anticipating
Tomorrow
The last year has been one of transition in the housing and mortgage industry,
as 2017 comes to a close, we can't help but ask, "What's next?"
By Nicole Casperson
Our hope is that increase demand for eNotes next year will help move additional aggregators and institu-